अApnaFunda
Menu

INDIA GLYCOLS LTD (INDIAGLYCO)

Process Industries · Chemicals: Specialty · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.63 / 100
Profitability 61Growth 85Balance sheet 44
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.63 / 100
Price 38Earnings 58FII/DII 92

Passes these screensValue PickLittle growth priced in

Compare withLINDE INDIACOROMANDEL INTERNATIONAL LIMITGUJARAT FLUOROCHEMICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹308.35 latest close · −9.8% over the last 90 sessions

₹250₹300₹350Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹250₹300₹350Jul 3Sep 4Nov 9

₹308.35 month-end · −11.0% over 12 months

₹300₹350Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹300₹350Nov '25May '26Nov '26

₹308.35 month-end · +170.5% over 3 years

₹100₹200₹300Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹100₹200₹300Nov '23May '25Nov '26

₹308.35 month-end · +639.4% since Jan '19

₹0₹100₹200₹300Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹100₹200₹300Jan '19Dec '22Nov '26

52-week range ₹217.00 to ₹399.00 · 1-year volatility 66.9%

Was the rally earned?

-11%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 19 points, but investors now pay less per rupee of profit (P/E 8.8x to 6.4x), which took 30 points back.
  • The share count rose 8%.
Net profit growth: +26 pts. Points of the price return explained by net profit growing (or shrinking).+26 ptsNet profit growthP/E change: −30 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−30 ptsP/E changeShare count change: −7 pts. Points of the price return explained by the share count changing. More shares count against the price.−7 ptsShare count changeShare price: −11%−11%Share priceNet profit growth: +26 pts. Points of the price return explained by net profit growing (or shrinking).+26ProfitP/E change: −30 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−30P/EShare count change: −7 pts. Points of the price return explained by the share count changing. More shares count against the price.−7SharesShare price: −11%−11%Share price
Net profit growth+26 ptsNet profit rose about 32%, which lifts the price.
P/E change-30 ptsThe P/E fell from 8.8x to 6.4x, which lowers the price.
Share count change-7 ptsShare count rose 8%, which lowers the price.
+171%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 149 points to the rise, while the multiple moved less (P/E 5.7x to 6.4x).
  • The share count fell 4%.
Net profit growth: +141 pts. Points of the price return explained by net profit growing (or shrinking).+141 ptsNet profit growthP/E change: +22 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+22 ptsP/E changeShare count change: +7 pts. Points of the price return explained by the share count changing. More shares count against the price.+7 ptsShare count changeShare price: +171%+171%Share priceNet profit growth: +141 pts. Points of the price return explained by net profit growing (or shrinking).+141ProfitP/E change: +22 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+22P/EShare count change: +7 pts. Points of the price return explained by the share count changing. More shares count against the price.+7SharesShare price: +171%+171%Share price
Net profit growth+141 ptsNet profit rose about 128%, which lifts the price.
P/E change+22 ptsThe P/E rose from 5.7x to 6.4x, which lifts the price.
Share count change+7 ptsShare count fell 4%, which lifts the price.
+125%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 126 points, but investors now pay less per rupee of profit (P/E 6.5x to 6.4x), which took 1 point back.
  • The share count rose 8%.
Net profit growth: +137 pts. Points of the price return explained by net profit growing (or shrinking).+137 ptsNet profit growthP/E change: −1 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−1 ptsP/E changeShare count change: −11 pts. Points of the price return explained by the share count changing. More shares count against the price.−11 ptsShare count changeShare price: +125%+125%Share priceNet profit growth: +137 pts. Points of the price return explained by net profit growing (or shrinking).+137ProfitP/E change: −1 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−1P/EShare count change: −11 pts. Points of the price return explained by the share count changing. More shares count against the price.−11SharesShare price: +125%+125%Share price
Net profit growth+137 ptsNet profit rose about 144%, which lifts the price.
P/E change-1 ptsThe P/E fell from 6.5x to 6.4x, which lowers the price.
Share count change-11 ptsShare count rose 8%, which lowers the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with LINDE INDIA

How rough has the ride been?

Maximum drawdown-53.0%recovered 2024-07
1-year volatility66.9%annualised
Beta vs sector index1.423-year daily, correlation 0.46
Volume spikes11last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−52.2% 0%−20%−40%2020202220242026−52.2%
Largest drawdowns

-53.0% (2022-04 peak to 2023-04 low, recovered 2024-07)

-51.6% (2020-02 peak to 2020-03 low, recovered 2021-01)

-43.8% (2019-01 peak to 2019-08 low, recovered 2020-02)

Most recent volume spikes

2026-10-27: 12.6x the 50-day median, price +16.1% that day

2026-10-14: 5.4x the 50-day median, price -0.7% that day

2026-10-13: 33.3x the 50-day median, price +10.2% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

6.4xP/E todayWithin its usual range
Against its own history65th percentile
CheapestMedian 5.3xDearest

Usual range 1.7x to 7.5x since 2019-01.

Against Process Industries6.4x vs 18.1x
This company
6.4x
Sector median
18.1x

65% below the Process Industries median.

1.4x11.8x22.3x32.7xJan '19Aug '20Mar '22Oct '23May '25Nov '261.4x11.8x22.3x32.7xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE54thflat vs a year ago
  • Op. margin68th▼ 5 pts vs a year ago
  • Revenue growth61st▲ 12 pts vs a year ago
  • EPS growth62nd▼ 13 pts vs a year ago
  • Debt/equity ↓37th▲ 14 pts vs a year ago
  • Cash cycle ↓81st▲ 11 pts vs a year ago
  • P/E ↓92nd▲ 3 pts vs a year ago
  • 12M momentum47th▼ 49 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~5%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 8.6x, a holder earning 12%/yr needs earnings to grow about 4.7%/yr for 10 years, then trade at 15x.

Delivered14.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−9.5 ptsimplied minus delivered
Rank698thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

-7%13%33% Jan 2019Nov 2026 -7%13%33% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x6.0%6.9%7.9%
15x3.8%4.7%5.6%
20x1.0%1.9%2.8%

Drag a slider to test other assumptions

Implied: 4.7%/yr

Looking back

  • Jan 2020Price implied 8%/yr; EPS has since grown 11%/yr (7.0 yrs)
  • Jan 2021Price implied 0%/yr; EPS has since grown 15%/yr (6.0 yrs)
  • Jan 2022Price implied 5%/yr; EPS has since grown 15%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹308.35
P/E
6.4x
ROCE
12.0%
Market Cap
₹2065 cr
Revenue (TTM)
₹4300 cr
P/S
0.5x
P/B
0.7x
ROE
11.0%
Operating Margin
15.0%
Debt / Equity
0.6x
Promoter Holding
59.6%
12M Momentum
-11.0%

52-week range

₹217.00₹399.00
50% of the way from its 52-week low to its high

Price risk

1Y volatility
66.9%
Beta vs sector
1-year daily
1.25

Balance sheet & cash

Interest cover
operating profit ÷ interest
3.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.25x
Share count, 1Y
+9.7%

Are profits backed by cash?

6 of 7checks within range1 beyond a threshold
Other income reliance13%Within range

Other income as a share of pre-tax profit (trailing twelve months): 12.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate22%Within range

Median quarterly effective tax rate over about 2.5 years: 22.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.25xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.25x (cash from operations ₹1,570 cr, net profit ₹697 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-13 daysWithin range

Debtor days are below the median of the previous three fiscal years by 13 days (30 vs 43). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress1% of fixed assetsWithin range

Capital work-in-progress is 1% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-99 days / 2 yrsWithin range

Days payable changed by -99 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, DIIs added 5.2 pts; promoters trimmed 1.4 pts; FIIs added 1.0 pts.
  • The number of shareholders rose from 47,476 to 52,968 (+12%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters61.0%59.6%-1.4 pts
FIIs1.3%2.2%+1.0 pts
DIIs0.1%5.2%+5.2 pts
Public and others37.6%32.9%-4.7 pts

Number of shareholders

52,968shareholders+12% since Sep '23
47k52k57k62k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 47,476
Dec '23: 47,259
Mar '24: 59,579
Jun '24: 57,768
Sep '24: 54,751
Dec '24: 62,408
Mar '25: 59,736
Jun '25: 55,149
Sep '25: 54,863
Dec '25: 54,301
Mar '26: 52,848
Jun '26: 52,968
 47k52k57k62k Sep '23Sep '24Sep '25Jun '26
Sep '23: 47,476
Dec '23: 47,259
Mar '24: 59,579
Jun '24: 57,768
Sep '24: 54,751
Dec '24: 62,408
Mar '25: 59,736
Jun '25: 55,149
Sep '25: 54,863
Dec '25: 54,301
Mar '26: 52,848
Jun '26: 52,968

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+23.6%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like INDIA GLYCOLS LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −8% to +54% vs the market, against +2% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +21.9%, 80% range +5.1% to +29.7%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
KELLTONTEC · Sep 2025: −46.5% vs market
KCPSUGIND · Nov 2024: −44.0% vs market
RKEC · Aug 2024: −41.4% vs market
INDSWFTLAB · Apr 2024: −41.1% vs market
NFL · Jun 2021: −37.4% vs market
GINNIFILA · Jun 2022: −34.9% vs market
MVGJL · Apr 2025: −24.7% vs market
INDIANHUME · Jun 2025: −24.5% vs market
RPPINFRA · Feb 2021: −20.7% vs market
KMSUGAR · Jun 2022: −20.2% vs market
ORIENTCER · Mar 2022: −18.5% vs market
SANGAMIND · Dec 2023: −17.0% vs market
SUPERHOUSE · Oct 2022: −8.3% vs market
PRAKASH · Aug 2020: −5.2% vs market
PARACABLES · May 2021: −4.6% vs market
KUANTUM · Mar 2021: −3.6% vs market
RAIN · Jan 2020: −2.3% vs market
KAMATHOTEL · Jul 2020: +0.5% vs market
INDORAMA · Nov 2021: +3.7% vs market
AMDIND · Aug 2020: +5.0% vs market
BANSWRAS · Jul 2022: +10.1% vs market
IRB · Jun 2020: +11.8% vs market
20MICRONS · Jun 2022: +14.5% vs market
ARIES · Jan 2025: +16.3% vs market
SUNFLAG · Jan 2020: +23.5% vs market
JINDALSAW · Jun 2020: +23.6% vs market
SCI · Nov 2023: +26.4% vs market
VASCONEQ · Dec 2020: +29.2% vs market
MAGADSUGAR · May 2020: +33.1% vs market
TRANSWORLD · Jul 2021: +34.2% vs market
UNIVCABLES · Dec 2023: +34.5% vs market
ELECTCAST · Jan 2021: +35.9% vs market
GPTINFRA · Jan 2021: +39.3% vs market
MANINDS · Jun 2025: +40.7% vs market
NAVA · May 2023: +40.8% vs market
PENIND · Sep 2024: +49.2% vs market
RGL · Jul 2020: +53.0% vs market
ASHAPURMIN · Jun 2025: +54.5% vs market
SPORTKING · Jul 2025: +67.1% vs market
SPIC · Jan 2021: +68.0% vs market
BIL · May 2024: +69.8% vs market
SARLAPOLY · Apr 2021: +80.4% vs market
SPAL · Feb 2021: +80.6% vs market
DALMIASUG · Dec 2020: +97.0% vs market
VEDL · May 2020: +106.3% vs market
LTFOODS · Apr 2020: +107.9% vs market
PGIL · Jul 2023: +124.5% vs market
AURIONPRO · Nov 2020: +137.5% vs market
ELECON · Jan 2021: +186.0% vs market
GOODLUCK · Jan 2021: +265.0% vs market
Similar setups +23.6%All companies +1.7%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 6 beyond the range shown, drawn at the edge

Similar setups' median
+23.6%
All companies' median
+1.7%
Beat the market
66% vs 52%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SPORTKING
Process Industries		 Jul 2025 13x12% −16%−27% +67%
BIL
Consumer Non-Durables		 May 2024 8x13% +79%−11% +70%
NAVA
Utilities		 May 2023 7x15% +30%−11% +41%
MVGJL
Retail Trade		 Apr 2025 11x16% −13%−28% −25%
ELECTCAST
Non-Energy Minerals		 Jan 2021 6x8% +45%−12% +36%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SUPERHOUSE
Consumer Non-Durables		 Oct 2022 7x10% +30%−21% −8%
SANGAMIND
Process Industries		 Dec 2023 15x15% +74%−6% −17%
UNIVCABLES
Electronic Technology		 Dec 2023 15x12% +74%−5% +35%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: ROCE, interest cover and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to INDIA GLYCOLS LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

UNIVERSAL CABLESUNIVCABLES
Electronic Technology
67%similar
ROCEvolatility
CONFIDENCE PETROLEUM INDIA LIMCONFIPET
Retail Trade
57%similar
market capvolatility
JAY BHARAT MARUTIJAYBARMARU
Distribution Services
57%similar
promoter holdingvolatility
DIGITIDE SOLUTIONSDIGITIDE
Technology Services
56%similar
debt/equitypromoter holding
VAIBHAV GLOBALVAIBHAVGBL
Consumer Durables
56%similar
revenueEPS growth
GANDHAR OIL REFINERY INDIAGANDHAR
Process Industries
57%similar
P/Erevenue
S H KELKAR AND COMPANYSHK
Process Industries
53%similar
market capdebt/equity
BODAL CHEMICALSBODALCHEM
Process Industries
51%similar
market cappromoter holding

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Jun '24

  1. OctPriceRegained the 2026-08 peak, 1 month after the low.
  2. OctPriceFell 25% from the Oct 2026 peak to the Oct 2026 low.
  3. OctPriceVolume reached 33.3x its 50-day median on 2026-10-13; price +10.2% that day.
  4. SepPriceFell 38% from the Aug 2026 peak to the Sep 2026 low.
  5. SepPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
  6. AugPriceVolume reached 19.2x its 50-day median on 2026-08-18; price +6.4% that day.
  7. JulPriceRegained the 2025-11 peak, 6 months after the low.
  8. JulValuationP/E crossed above the 90th percentile of its own history to date (8.0x).
Show 22 earlier events
  1. JunSharesShare count is up 9.7% over 12 months.
  2. MarInstitutionsFII + DII holding rose 3.7 pts over 1 quarter to 7.6%.
  3. MarPeer rankMoved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  4. FebValuationP/E crossed above the 90th percentile of its own history to date (7.3x).
  5. JanPriceFell 30% from the Nov 2025 peak to the Jan 2026 low.
  6. OctPriceVolume reached 13.6x its 50-day median on 2025-10-13; price +2.3% that day.
  7. SepResultsRevenue (TTM) reached a new high of ₹3,839 cr.
  8. SepPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
  9. JunPeer rankMoved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  10. MayPriceRegained the 2024-10 peak, 2 months after the low.
  11. MayValuationP/E crossed above the 90th percentile of its own history to date (8.9x).
  12. MayPriceVolume reached 5.7x its 50-day median on 2025-05-13; price +6.3% that day.
  13. MarPriceFell 30% from the Oct 2024 peak to the Mar 2025 low.
  14. NovValuationP/E crossed above the 90th percentile of its own history to date (6.9x).
  15. OctPriceVolume reached 11.8x its 50-day median on 2024-10-08; price +16.6% that day.
  16. SepResultsRevenue (TTM) reached a new high of ₹3,574 cr.
  17. JulPriceRegained the 2022-04 peak, 15 months after the low.
  18. JulValuationP/E crossed above the 90th percentile of its own history to date (6.9x).
  19. JulPriceVolume reached 15.4x its 50-day median on 2024-07-11; price +6.8% that day.
  20. JunResultsYear-on-year EPS growth turned positive.
  21. JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the 3rd quartile).
  22. JunPriceVolume reached 8.2x its 50-day median on 2024-06-07; price +4.0% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-116.4x₹4300 cr11.0%12.0%0.6x
2026-106.9x₹4300 cr10.8%12.0%0.6x
2026-096.4x₹4300 cr10.8%12.0%0.6x
2026-088.0x₹4210 cr10.0%12.0%0.6x
2026-078.0x₹4210 cr10.0%12.0%0.6x
2026-066.9x₹4210 cr10.0%12.0%0.6x
2026-057.2x₹4097 cr12.0%12.0%0.8x
2026-047.7x₹4097 cr12.0%12.0%0.8x
2026-036.3x₹4097 cr12.0%12.0%0.8x
2026-027.3x₹3970 cr11.5%12.0%0.8x
2026-016.7x₹3970 cr11.5%12.0%0.8x
2025-127.7x₹3970 cr11.5%12.0%0.8x
2025-118.8x₹3839 cr10.8%12.0%0.8x
2025-107.8x₹3839 cr10.8%12.0%0.8x
2025-096.9x₹3839 cr10.8%12.0%0.8x
2025-087.0x₹3768 cr10.2%12.0%0.8x
2025-077.3x₹3768 cr10.2%12.0%0.8x
2025-068.8x₹3768 cr10.2%12.0%0.8x
2025-058.9x₹3831 cr10.2%11.0%0.7x
2025-046.5x₹3831 cr10.2%11.0%0.7x
2025-035.2x₹3831 cr10.2%11.0%0.7x
2025-025.3x₹3760 cr9.5%11.0%0.7x
2025-016.5x₹3760 cr9.5%11.0%0.7x
2024-126.5x₹3760 cr9.5%11.0%0.7x
2024-116.9x₹3574 cr8.9%11.0%0.7x
2024-106.5x₹3574 cr8.9%11.0%0.7x
2024-096.6x₹3574 cr8.9%11.0%0.7x
2024-087.9x₹3294 cr8.4%11.0%0.7x
2024-076.9x₹3294 cr8.4%11.0%0.7x
2024-065.0x₹3294 cr8.4%11.0%0.7x
2024-055.9x₹2651 cr7.4%8.0%0.6x
2024-046.6x₹2651 cr7.4%8.0%0.6x
2024-036.0x₹2651 cr7.4%8.0%0.6x
2024-026.7x₹2651 cr7.4%8.0%0.6x
2024-017.2x₹2651 cr7.4%8.0%0.6x
2023-126.0x₹2651 cr7.4%8.0%0.6x
2023-115.7x₹2651 cr7.4%8.0%0.6x
2023-105.3x₹2651 cr7.4%8.0%0.6x
2023-095.5x₹2651 cr7.4%8.0%0.6x
2023-085.9x₹2651 cr7.4%8.0%0.6x
2023-074.8x₹2651 cr7.4%8.0%0.6x
2023-064.8x₹2651 cr7.4%8.0%0.6x
2023-051.8x₹2868 cr19.0%9.0%0.6x
2023-041.6x₹2868 cr19.0%9.0%0.6x
2023-031.8x₹2868 cr19.0%9.0%0.6x
2023-021.7x₹2868 cr19.0%9.0%0.6x
2023-012.0x₹2868 cr19.0%9.0%0.6x
2022-122.2x₹2868 cr19.0%9.0%0.6x
2022-112.2x₹2868 cr19.0%9.0%0.6x
2022-102.2x₹2868 cr19.0%9.0%0.6x
2022-092.4x₹2868 cr19.0%9.0%0.6x
2022-082.6x₹2868 cr19.0%9.0%0.6x
2022-072.7x₹2868 cr19.0%9.0%0.6x
2022-062.1x₹2868 cr19.0%9.0%0.6x
2022-056.5x₹2317 cr11.3%10.0%1.0x
2022-047.2x₹2317 cr11.3%10.0%1.0x
2022-037.6x₹2317 cr11.3%10.0%1.0x
2022-025.7x₹2317 cr11.3%10.0%1.0x
2022-016.7x₹2317 cr11.3%10.0%1.0x
2021-126.8x₹2317 cr11.3%10.0%1.0x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

Feedback